India-CARICOM Summit 2024

21 Nov 2024

India-CARICOM Summit 2024

Prime Minister Narendra Modi, during his historic visit to Guyana for the second India-CARICOM Summit, proposed seven pillars to strengthen India-CARICOM ties and received Dominica’s and Guyana highest honour.

Key Seven Pillars of India-CARICOM Relations

Prime Minister Narendra Modi outlined seven key pillars to deepen ties between India and CARICOM nations, aligning with the acronym C-A-R-I-C-O-M:

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Awards Conferred on PM Modi by Guyana and Dominica

  • Guyana: Conferred with The Order of Excellence, Guyana’s highest national award, by President Irfaan Ali for exceptional statesmanship and strengthening India-Guyana ties.
    • Dedicated to the people of India and the historical India-Guyana bond.
    • Modi was also handed the Key to the City of Georgetown.
  • Dominica: Received the Dominica Award of Honour, the highest national award, from President Sylvanie Burton.
    • Recognized for providing 70,000 COVID-19 vaccines and fostering India-Dominica relations.
    • Acknowledged for his leadership in global health, education, and climate resilience.

  • Capacity Building: Proposal to establish a forensic centre for the CARICOM region.
    • Suggestion to create a portal similar to India’s iGOT Karmayogi for continuous training of civil servants in areas like technology, administration, law, and education.
  • Agriculture and Food Security: Emphasis on collaboration to improve agricultural practices and ensure food security in CARICOM nations.
  • Renewable Energy and Climate Change: Focus on renewable energy projects and climate change mitigation.
    • $150 million credit line announced earlier for renewable energy initiatives.
  • Innovation, Technology, and Trade: Strengthening technological collaboration and trade relationships.
    • Proposal for an online portal to connect private sectors and stakeholders.
    • $1 million grant for SME development announced in 2019, with an emphasis on implementation.
  • Cricket and Culture: Promotion of cricket as a shared cultural passion and a bridge for people-to-people ties.
    • Preservation and sharing of cultural heritage between India and CARICOM.
  • Ocean Economy: Harnessing the potential of blue economy sectors for sustainable development.
  • Medicine and Healthcare: Strengthening healthcare systems and addressing public health challenges.

Key Proposals by PM Modi

  • Online Portal: Suggested creation of a portal to connect the private sector and stakeholders of India and CARICOM nations.
  • Support for SMEs: $1 million grant announced in 2019 to boost small and medium enterprises (SMEs) in the region.
  • Economic Cooperation:Commitment to renewable energy, climate change, and economic growth.
    • $150 million credit line for renewable energy initiatives announced earlier in 2019.
  • Vision for Collaboration: PM Modi emphasised promoting the “five Ts” trade, technology, tourism, talent, and tradition as key pillars for enhancing India-CARICOM ties, ensuring mutual growth, and addressing shared global challenges.

About Caribbean Community (CARICOM)

India-CARICOM Summit 2024

  • Founded: 1973, by the Treaty of Chaguaramas as the Caribbean Community and Common Market.
  • Secretariat: Located in Georgetown, Guyana.
  • Chairmanship: Rotates every six months among Heads of Member States.
    • Current Chair: Antigua and Barbuda.
  • Objectives of CARICOM
    • Economic Integration: Promote economic cooperation and integration among member states.
    • Equitable Benefits: Ensure the benefits of integration are shared fairly.
    • Foreign Policy Coordination: Harmonise the foreign policies of the region.
  • Members (15): Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
  • Observers and Associate Members
    • Observer States: Aruba, Colombia, Dominican Republic, Mexico, Puerto Rico, Venezuela.
    • Associate Members: Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Turks and Caicos Islands.
  • Global Status: Recognized as an Official United Nations Observer.

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Significance of India-CARICOM Partnership

  • Strategic Significance:
    • Global South Alliance: Strengthens India’s position in the Global South.
    • Diplomatic Leverage: Provides additional platforms for international cooperation.
  • Climate Action and Sustainability:
    • Shared Concerns: Both regions face threats from climate change, particularly small island nations.
    • India’s Leadership: India’s role in the International Solar Alliance and CDRI offers solutions.
    • Financial Support: India’s $140 million line of credit for renewable energy projects.
  • Economic Cooperation:
    • Trade and Investment: Opportunities for Indian businesses in IT, renewable energy, healthcare, and medical tourism.
    • Capacity Building: India’s expertise in digital healthcare and renewable energy can benefit CARICOM.
  • Cultural Ties and Diaspora:
    • Shared Heritage: Indian diaspora in the Caribbean strengthens people-to-people connections.
    • Cultural Exchange: Fosters understanding and cooperation between the two regions.

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UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
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Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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